This compound is primarily utilized in the synthesis of various pharmaceuticals and agrochemicals due to its pyridine and ethanol functional groups. It serves as a key intermediate in the production of herbicides and insecticides, where its structure allows for effective binding to target enzymes or receptors in pests. Additionally, it is employed in the development of certain drugs, particularly those targeting neurological disorders, as the pyridine moiety can interact with biological systems to modulate activity. Its versatility in organic synthesis also makes it valuable for creating complex molecules in medicinal chemistry research.